🥇 GOLD New Range. Head and Shoulders
Gold is drawing a reversal pattern on a strong rising trend. Will the price fall below strong supports?
1) Head and shoulders - reversal pattern is formed
2) The basic level is 1824, the price may either break it or bounce back.
3) We skip the initial price reaction. We wait for confirmation.
Buy: If the price tests 1824, makes a false-break and consolidates above the level - you may buy
Sell: Break-down of 1824, price consolidates under the level - you may sell, but with low risk
1) Head and shoulders - reversal pattern is formed
2) The basic level is 1824, the price may either break it or bounce back.
3) We skip the initial price reaction. We wait for confirmation.
Buy: If the price tests 1824, makes a false-break and consolidates above the level - you may buy
Sell: Break-down of 1824, price consolidates under the level - you may sell, but with low risk
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